Recon Technology (NASDAQ:RCON) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Recon Technology (NASDAQ:RCON) in a research report report published on Sunday morning. The brokerage issued a sell rating on the oil and gas company’s stock.

Recon Technology Stock Down 4.7 %

RCON stock opened at $2.05 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. The business has a 50 day simple moving average of $2.63 and a 200-day simple moving average of $2.26. Recon Technology has a twelve month low of $1.26 and a twelve month high of $5.34.

Hedge Funds Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC bought a new stake in Recon Technology, Ltd. (NASDAQ:RCON) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned approximately 0.21% of Recon Technology at the end of the most recent quarter. 9.47% of the stock is currently owned by institutional investors.

About Recon Technology

Recon Technology, Ltd. provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in the People’s Republic of China. The company offers equipment, tools, and other components and parts related to oilfield production and other energy industries; and develops and sells industrial automation control and information solutions.